Thao Lam La · · 1 min readSequoia’s China arm to rake in $9 billion for new funds
The Chinese unit of Sequoia Capital is set to raise US$9 billion for four new funds, The Information reported, citing sources familiar with the matter.
The amount has exceeded the firm’s original target of over US$8 billion, the report noted. If accurate, it would mark the highest amount of capital ever raised by a single VC firm to invest in Chinese startups.
The four new investment vehicles, according to another report, include two funds for mature private firms, a seed fund for early-stage investments, and a venture fund for mid to late-stage startups.
The news comes less than a month after Sequoia announced a US$2.9 billion fundraise for venture investment in Southeast Asia and India, in which US$850 million would be dedicated to the Southeast Asian region.
The move demonstrates Sequoia’s unwavering stance amid a so-called “funding winter” for tech startups globally. According to a report by CB Insights, global venture investment reached US$143.9 billion in the first quarter of 2022, down 19% compared to the previous quarter – the biggest quarter-over-quarter decline in nearly a decade.
Editing by Miguel Cordon and Jaclyn Tiu
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